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Mr Ewan McQuater QC (instructed by Freshfields Bruckhaus Deringer, 65 Fleet Street, London EC4Y 1HS) for the Claimants Mr Gabriel Moss QC and Ms Felicity Toube (instructed by Slaughter and May, One Bunhill Row, London EC1Y 8YY) for the Defendant Hearing dates: 24th-25th March 2004 ____________________
The answer plainly recognises the application of the Proviso in respect of the Sloane Property, for it is the reason why the value of the Sloane Property could not be included within the value of the Specifically Mortgaged Property.
The upgrade included the priority over preferential creditors which was afforded to the Trustees as chargees under the Deed and was not previously available to them as holders of floating charges.
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Common Room
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